Shareholders could decide the future of Elon Musk and Tesla this week as they vote on the proposed $1 trillion pay package many big investors are finding hard to accept at a time when Musk’s judgement and entrepreneurial instinct is in question. More from Headlight.News.
He’s already the richest man in the world but the Tesla board of directors has proposed a new $1 trillion pay package that would put CEO Elon Musk’s wealth nearly on a par with the market capitalization of some of the world’s most exclusive companies. Headlight.News has more.
Elon Musk took a big hit to the wallet in January when a Delaware judge rejected the $56 billion payout he was awarded by Tesla. The decision, along with Tesla’s weakened stock price, briefly knocked Musk off his perch as the world’s richest man. Now, Tesla is asking its shareholders to vote again on the pay plan while proposing other changes that would make it less likely future proposals could run into legal trouble.
Calling the deal “unfathomable,” a Delaware court has blocked the $565 billion pay plan awarded Tesla CEO Elon Musk in 2018. The move could spell trouble for Musk’s current demand for 25% control of the EV maker while also raising concerns about his floundering social media site, X, which relied on loans backed by Tesla stock. More from Headlight.News.